Will Gold collapse?
We can see how clearly the price reacted to the Fibonacci levels, and now Gold is at an extreme level. I assume that 2023 was the best year for Gold. And in 2024, we can expect a drop to at least 745 level.
The next Fibo level is 385 but something tells me that the price will roll towards the low of 2000s - below 254.
And the most impossible scenario is when Gold will completely devalue (-27).
For several months now, I've been asking myself: what should happen globally in the world for the most stable investment instrument - Gold, to drop like a brick? I don't know. Write your ideas in comments 'what can cause drop of Gold?'.
Let's see what 2024 will bring us :)
The next Fibo level is 385 but something tells me that the price will roll towards the low of 2000s - below 254.
And the most impossible scenario is when Gold will completely devalue (-27).
For several months now, I've been asking myself: what should happen globally in the world for the most stable investment instrument - Gold, to drop like a brick? I don't know. Write your ideas in comments 'what can cause drop of Gold?'.
Let's see what 2024 will bring us :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.